Sterling Infrastructure (NASDAQ:STRL) Trading Down 5.2% – Here’s Why

Sterling Infrastructure, Inc. (NASDAQ:STRL) shares traded down 5.2% on Thursday . The stock traded as low as $132.48 and last traded at $133.03. 111,473 shares were traded during mid-day trading, a decline of 75% from the average session volume of 448,602 shares. The stock had previously closed at $140.40.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. William Blair assumed coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They issued an “outperform” rating on the stock. StockNews.com lowered shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Thursday, February 6th.

Sterling Infrastructure Trading Up 1.8 %

The business’s fifty day simple moving average is $166.52 and its 200 day simple moving average is $153.71. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock has a market cap of $4.07 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24.

Insiders Place Their Bets

In other news, Director Dana C. O’brien sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the transaction, the director now owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Sterling Infrastructure by 30.0% in the 4th quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company’s stock valued at $425,135,000 after purchasing an additional 581,847 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Sterling Infrastructure by 22.5% in the 4th quarter. Invesco Ltd. now owns 757,273 shares of the construction company’s stock valued at $127,563,000 after purchasing an additional 139,081 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Sterling Infrastructure by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock valued at $104,431,000 after purchasing an additional 3,918 shares during the last quarter. State Street Corp boosted its stake in shares of Sterling Infrastructure by 0.7% in the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after purchasing an additional 5,106 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Sterling Infrastructure by 7.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company’s stock valued at $111,873,000 after purchasing an additional 49,008 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.